Bank of Korea prepares for live CBDC transactions with 9 banks in September
CoinDesk 2026-07-20 11:10:07
Context: The Bank of Korea is gearing up to conduct live transactions of a central bank digital currency (CBDC) with nine major banks in September. This initiative involves a large-scale test of a blockchain network that will enable retail consumers to trade tokenized versions of the Korean won freely across different commercial banks. The project marks a significant step in the development and potential implementation of a CBDC in South Korea.
Key Facts
- The Bank of Korea has partnered with nine major banks to conduct live CBDC transactions starting in September, as part of a broader effort to test the feasibility of a central bank-backed digital currency.
- The live transactions will be facilitated through a blockchain network that allows for the free trading of tokenized Korean won among retail consumers across different commercial banking lines.
- The testing phase involves major banking heavyweights and aims to assess the practicality and efficiency of a CBDC in real-world transactions, paving the way for potential widespread adoption.